You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

April 10, 2020

Cambodia Issues Tax Relief Measures for Textile and Garment Enterprises to Mitigate EBA Suspension

Subscribe to Updates

On March 24, 2020, Cambodia’s Ministry of Economy and Finance issued Prakas No. 319 MoEF.Br.K on Tax Measures to Mitigate the Effect of Challenges on Textile and Garment Enterprises.

This prakas provides income tax exemptions to factories and enterprises in the textile, garment, footwear, bag, handbag, and hat sectors that are affected by the partial suspension of the European Union’s Everything but Arms (EBA) preferential tariff scheme.

Companies will receive an income tax exemption for the 2020 tax year based on how the partial suspension of EBA has affected their business. The formula for determining the level of the effect is set out below:

In order to qualify for the above income tax exemptions, companies must submit documentary evidence to quantify the effect of the partial EBA suspension to the General Department of Taxation when submitting their annual income tax returns.

For more details on this tax relief measure, or on any aspect of conducting business in Cambodia, to Tilleke & Gibbins at [email protected].

Related Professionals

Practices

Tax

Location

RELATED INSIGHTS​ 

April 30, 2011
This open letter from David Lyman to the clients of Tilleke & Gibbins addresses the events that unfolded in April 2009, when political demonstrations—sometimes violent—took place in Bangkok and Pattaya. Although the protests by the so-called Red Shirts attracted a great deal of media attention, life continued without serious disruption in Thailand’s capital.
Read More
April 30, 2011
The current global economic crisis has had a considerable effect on Thailand’s real estate market, and house purchasing demand has decreased accordingly. The stagnant housing market will have an impact on many businesses, the main ones being real estate developers, financial institutions, construction companies, and construction material suppliers. To address this issue, on January 20, 2009, the Cabinet passed a resolution which provides tax measures intended to stimulate the Thai economy.
Read More
April 30, 2011
This 34-page guide provides a comprehensive summary of Thailand’s tax laws. The authors provide a full overview of income taxes as they apply to business entities and individuals in Thailand. The guide also provides a review of Value Added Tax, Specific Business Tax, Customs duties, stamp duties, property tax, and other issues.
Read More
April 30, 2011
Within the past two years, Thailand has experienced a number of events that have called into question the country’s political stability. In this article, David Lyman puts these events into historical perspective by looking back on the path that has led to the current situation. This article provides a thorough overview of Thailand’s recent history and explains many of the driving factors underlying the political instability of 2008. The article concludes that there is reason for optimism about Thailand’s future, with progressive development likely to return to the country.
Read More